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Fall 2018 Olympia WA Real Estate Market Update – is the market finally softening?
Fall 2018 Olympia WA Real Estate Market Update – is the market finally softening? 
 
Have you read the headlines that the market is correcting and we are heading towards a downturn?  That might be a little premature but anytime there are fewer closed sales or an increase in inventory, the media is quick to sound the “market correction” alarms.  But in looking at the broader context, the market is still firmly set in a seller’s market despite the media reports.
Here are the facts for the Olympia WA area real estate market.
 
FACT:
Closed sales were down 14.9% from September last year.
 
MEDIA'S RESPONSE:
The real estate marketing is coming to a halt!
 
CONTEXT:
September 2017 broke all records, coming in 20% higher than any other September in our market’s history.  It would be difficult to replicate that month under any market conditions. September 2018 was a day shorter than a year ago (for closings and reporting of sales purposes 2018 ended on Friday the 28th, where last year ended on Friday the 29th).  That might not seem consequential, but the extra day typically amounts to about 30-40 fewer sales being reported in the month they actually occurred. September 2018 was still ... more

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